ISLAMABAD - Prime Minister Youth Affairs (PMYA) Programme has planned to launch “SME-lending facility” with the allocation of Rs450 million to offer subsidized business loans to young entrepreneurs.

According to an official, “It has been for the first time in the history, clean lending facility will be offered to borrowers up to Rs500,000, whereas subsidized loans will also be offered from Rs0.5 to1 million.”

He said that PMYA would provide subsidy to the borrowers by sharing half of their interest rate.

He said that the programme was meant to uplift youth and maintain sustainable national economic growth which was only possible if we could  manage our young labour on modern trends in line with the latest developments.

He said that Pakistan Tehreek-e-Insaf (PTI) government was focusing to bring institutional change to achieve socio-economic empowerment of  youth which comprises major chunk of the nation’s population.